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I am selling my property to an customer where he pay amount by loan
04-Mar-2025 (In Property Law)
I am selling property to an customer now he already gave me 10 lakh advance
And telling me to pay 20 lakhs after registration he taking loan on property then he pay me 20 lakhs from loan now my question is that when the property being registered on her name where registrar ask me all money was gaven to me or not where I have to tell that all money I have received
What should I do now
It’s better you take a cheque of Rs 20 lakh from him and mention in the sale deed that cheque has been given and possession of property will only be given once 20L will be received.
It’s better you hire an advocate ok this regard who will guide n prepare an agreement in this case ! Plz b in touch
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Adv. D. Khan
Delhi | 1000+ Answers
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Firstly, registry should only be done on receiving full payment. Even if a loan is being taken by the buyer for purchase of the property, verification/ due diligence is done be the bank basis the title chain available with you and the documents that would be executed.
Secondly, language reflecting the actual transaction must be recorded in the Agreement to Sell to ensure legal certainty.
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